ISSUE – Jun. 08 | Ant Financial Raises $14B To Fund Global Expansion

China’s Ant Financial, the payment affiliate of e-commerce giant Alibaba, has completed a mega-funding round that raised a total of $14 billion from domestic and international investors. The fundraising was made up of a yuan-denominated tranche that came mainly from existing shareholders, as well as a dollar-denominated tranche raised from global institutional investors that included Singapore’s sovereign wealth funds GIC and Temasek, Malaysia’s Khazanah Nasional Berhad and the Canada Pension Plan Investment Board.Private equity groups like Warburg Pincus, Silver Lake Partners and General Atlantic also participated in the dollar tranche, according to a statement from Ant Financial. [ Forbes ]